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Automation=fewer jobs March 28, 2017

Posted by hslu in Economics, jobs, Trump.
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Common sense. But Trump didn’t tell you that.

Source: Fox News

Source: Fox News

Just like the auto factories in Detroit where robots replaced union workers on the assembly line, automation on port terminals will do the same for the dock jobs. In time, many of these jobs will be gone too. 
Other everyday examples are many: cashier jobs lost to the self checkout machines at Walmart and your local grocery stores, bank teller jobs lost to ATMs and waiter and waitress jobs to the self-ordering kiosks at restaurants, McDonald’s, Wendy’s and other fast food joints. 

Even lawyers’p jobs aren’t safe because AI can provide basic law information better than young lawyers can. And AI can do it more accurately.

These are the jobs Trump won’t be able to save and it has nothing to do with globlization. 

The trend can not be stopped no matter how many sound bites or tweets Trump delivers. It’s like a tsunami which will hit American jobs hard.

It’s time to use robots to replace government jobs. Robots are friendlier than government employees. They are more efficient. They don’t need breaks and they don’t need vacation or sick leaves. They don’t need 403 (b) and they don’t complain. They don’t have family problems and they don’t call in sick at the last minute. They are on time and they don’t need overtime pays either. In addition, they won’t get pregnant, ever.

Will we ever have a robot in the White House? 

At least, it won’t tweet anything about Obama, Ryan or even the Freedom Caucus in the middle of the night.

Maybe Star Trek’s Data should seriously consider the offer.

The anti Trump snowball gets bigger February 5, 2017

Posted by hslu in Economics, Global Affair, Globlization, Liberal Media, Trump.
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Trump’s travel ban is attracting more attentions in the news media and none of them is welcome news to the Trump administration. The anti Trump sentiment will get bigger as the media fans the fire around the world. 

In the end, Trump will lose the fight.

Source: Mirror

Trump’s brand new immigration policy, his “beautiful, physical” wall to be built along the Mexico-America border and his “America first” trade war against its trading partners are telling the world that America no longer welcome outsiders. 

America, the de facto bully in the world for the past 70 years, took advantages of foreign countries’ natural resources, exploited their cheap labors, sold everything to the world and made money hand over fist.

Gradually America got lazy and took everything for granted. Union made many American industries ill prepared for competition from foreign companies. American managers were more concerned about next quarter’s earnings that they forgot what vision was. They were so short-sighted that they failed to see the major trends governing their respective industries.

Along the way, many Americans forgot how to work for a living as government handouts became their way of life. The federal government became the great wealth equalizer as more and more tax dollars went to people who didn’t have the necessary skill to contribute to the soceity. They became a burden to the economy and dragged the productivity down. Individuals and companies saw their taxes go up not only to carry these people along but also to pay for the military machine and several bloody wars.

Slowly, American industries disappeared. They either moved to a foreign country and invested capitals there or they lost billions and died a slow death. The ones which stayed had to modernize their operations with robots and got rid of workers who demanded generous sick leaves, hourly coffee breaks, paid maternal leaves, paid holidays, vacations, matched benefits in 401(k) and pensions after retirement. 

Then came Trump. 

He didsn’t want to solve the real problem but to blame foreign competitions for America’s failure. His message resonant with electorals in the rust belt and Hillary’s baggage and dishonesty pushed Trump into the WH.

Once there, he showed his true color and acted like a bully instead of a statesman. His big mouth, his irresponsible tweets and his abrasive personality made him an easy target for people on the left and in the middle left. He is also hated by people from many foreign countries because of his radical and destructive policies.

With media turning against Trump, with opposition brewing in Republican’s own backyard and with legal trouble mounting in the court, demand on Trump to change will be unrelenting. 

A snowball with Trump’sname on it is rolling but Trump is busy tweeting at the bottom of the hill.

Globlization and American Jobs January 26, 2017

Posted by hslu in Economics, Globlization, jobs, Trump.
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Under the false promises of “Globlization,” American corporations have ‘raped’ foreign countries for decades. Powerful U.S. international companies utilized natural resources from these poor countries, moved manufacture plants to foreign countries, exploited cheap labors overseas, sold goods big and small to customers all over the world, raised some American’s living standards, pushed up labor cost in the U.S. and made many corporate CEO’s, Trump included, filthy rich. 

The so-called “top 1%” owned Swiss and Cayman Island bank accounts, lived in expansive condos on Park Avenue in NYC and prime central locations in London and enjoyed fancy vacations at French Riviera and Morocco. They hired expansive CPAs to hide their money from tax men, passed their wealth to trusts and skipped paying taxes using every loopholes possible.

Greedy American financial institutions, the likes of Goldman Sachs, Morgan Stanley, Bear Sterns and Merrill Lynch, and hundreds of hedge funds made billions by ganging up the system against ordinary people.

Some Americans diligently worked long and hard, raised good families, dutifully paid their taxes, enjoyed their comfortable lives, breathed cleaner air, bought widescreen TVs from Amazon and cheap imports from Walmart, drove new SUVs made in Korea or Japan (Consumer Report consistently gives cars from GM, Ford low ratings. Worse for Chrysler or Jeep), took cruise vacations to Caribbean islands, loaded up their credit cards to the limits, paid 18% interest on the balance and piled up debts which they have no hope of ever paying it off.

Blue collar workers in the U.S. worked for factories in the rust belt, joined Unions for protection against the management and earned an honest living. Their high wages, however, put their products at a disadvantage. These companies lost millions year after year. Layoffs happened. Factories closed down because these out-dated plants couldn’t compete with more efficient factories in foreign countries. 

Millions of blue collar workers lost their jobs for months and years. These laid off American workers were gradually forgotten by the labor market. Their families lived in poverty and depended on government to survive. They hated the status quo and believed their American dreams died since the financial crisis. These were the people who rejected Hillary and the Washington establishment and ushered Trump into the WH.

Well, the fact of the matter is that “Globlization” has benefited America tremendously. However, that benefit has been overwhelmingly enjoyed by a selected few at the expense of many at the bottom.

Many Americans hated “Globlization” because they falsely believed, some no doubt have come from Trump, that “Globlization” took their jobs away. 

This wasn’t entirely true. Some American jobs no doubt went to Mexico and Asian countries because U.S. corporations chose to invest over there. 

However, many plants in the U.S. got automated to offset high labor cost so that they could tlcompete with foreign companies. Millions of robots in the factories and millions of automated machines big and small displaced human workforce. Productivity improved and some products made in the U.S. became competitive again. What’s left behind were millions of unemployed Americans because their jobs were gone forever.

Well, if Trump is really serious about his criticism of globlization, he should set an example, closes his foreign businesses, moves them back to the U.S., hires Americans, pays them handsomely, offers them a generous 401(k) package and gives them a pension too.

The (largely false) globalization narrative – The Washington Post January 20, 2017

Posted by hslu in Economics, Globlization.
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Worth reading. Find out what is the real culprit of America’s vanishing jobs.

Hint: Robots in GM factories and self check out registers at every Safeway, Home Depot, Walmart and many other stores.

He’s absolutely right November 11, 2016

Posted by hslu in Economics, Global Affair.
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Source: CNBC.

He said It the best. It’s great for the top 1% but bad for 6-pack Joe and Jane. 

In aggregate, it looks great. In fine prints, many people suffered along the way.

Globlization is a giant and effective equalizer. It brings down rich countries to a level where developing countries may one day be able to reach to.

In aggregate. That is.

Rich people get richer. The poor souls remain hopeless.

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